U.S. farmers have indicated they will be planting a record 84.6 million acres of soybeans in 2015, according to the USDA’s “Prospective Plantings” report. This is 1% higher than the previous record set in 2014. If realized, Kentucky, Minnesota, New York, Ohio, Pennsylvania, South Dakota and Wisconsin will see the largest soybean acreage on record.
According to the report, corn acres planted this year will be 89.2 million acres, down 2% from last year and 6% lower than 2013. Planted wheat acres are estimated at 55.4 million acres, down 3%. All cotton planted area for 2015 is expected to total 9.95 million acres, down 13% from 2014. The “Prospective Plantings” report is the first USDA survey of producer’s 2015 planting intentions.